The "Save 12k in 2017" Thread!

enomis

enomis wrote: »

Number 78 here. Form submitted for January update. Happy to report £1313.73 saved this month.

So happy to have found this thread. Towards the end of last year I decided somewhat unexpectedly to extend the lease on my flat. Mainly due to the rate of HSBC's 10 year fixed rate mortgage at the time. However, my finances weren't in the best state in my opinion. I'd just applied for a new credit card to stooze some more money. So I decided to be more appealing to the bank by clearing my other two credit cards and clearing my student loan to increase my take home pay. I then used the rest of my savings to start the lease extension (but I will put that back when I draw down my equity release loan) and to pay the early repayment charge for breaking my fix (it was worth it). I got the money I wanted from the bank at the rate I wanted but also zeroed my savings. So my goal for this year is to rebuild my safety net.

The accountability of reporting in each month and everyone else's stories and tips is so motivating. Thanks Slowlyfading for running this and to everyone for their contributions.

February update and also submitting on the update form. Unfortunately I'm reporting a negative figure of -£18.67
This was due to an unexpected solicitors fee of over £800 plus I booked flights to New York for Easter

I think it make more sense not to draw down my equity release loan until I need the bulk of the money (or until the last draw down date, which ever comes first) as I can't earn interest at a high enough rate in savings to cover the interest being added to it, so until the premium is due I will be dipping into my savings (and cash reserves). Hopefully next month will be positive.

CrabbitDutchie

#46 checking in.

It's been a pretty good month savings wise and I'm declaring £950 in total.
March will be a little tricky and I'll be happy if I manage £400

A little off target, but not as much as I thought I would be at this stage. Bonuses will be awarded this month, but I'm not holding out any hope based on the massive pay rise I'm getting starting tomorrow (despite bonuses supposedly being for last year's performance where I clearly did pretty well ).

I'm hoping that from April on I'll manage to continuously hit above a 50% savings rate which should keep things building nicely!

What_a_mortgage

#170 reporting £1028.05 for February. Slightly under the target for the month (hoping to achieve my £9k target plus ideally a safety net by September before smp kicks in). Next month is bonus month though so that should help. Update form submitted.

Hantsman

£1432.64 for Feb! Nearly at £90,000 total!!

[Deleted User]

I too have had some hugh bills and unfortunately have had to dip into savings. I am -£50 off last months savings, so £750 saved in total this year #132. Hopefully no more nasty surprise payouts.

Garfield1987

Hi Everyone,
I got paid yesterday and it was also my 30th birthday and I am so happy that yesterday I am now debt-free! I just paid off my last bill so in total I have paid off £6k since October so now money I am putting aside is actual savings for a house deposit!
Sorry to boast on here, but I don't think anyone I know thinks that debt-free is that important!
Thanks everyone

:j:j:j:j:j:j

bobobski

Garfield1987 wrote: »

Hi Everyone,
I got paid yesterday and it was also my 30th birthday and I am so happy that yesterday I am now debt-free! I just paid off my last bill so in total I have paid off £6k since October so now money I am putting aside is actual savings for a house deposit!
Sorry to boast on here, but I don't think anyone I know thinks that debt-free is that important!
Thanks everyone

:j:j:j:j:j:j

Woohooooo well done you!!! _party_ _party_ _party_ _party_ _party_

cydney65

Declaring £292.49 this month. This is a bit rubbish but I bought 2 concert tickets and helped daughter out financially as she and her husband are separating

Must try harder!

CydneyX

qwertysaver1

#40 declaring £1338.83 saved for Feb (update form submitted)

Tom86

#137 reporting in for February....bit of a shocker this month which I will blame on a skiing holiday....only saved £210...